It has transpired that they weren't kidding. The Formula One Teams' Association tonight revealed that after endless attempts to come to an agreement with the FIA over the future of the sport failed, they will go alone in 2010.
In a move that could (if it actually happens) shatter the top tier of world motorsport, FOTA this evening confirmed that they have grown so frustrated with the FIA's rules and restrictions that they will forge ahead with a rival championship in 2010. This followed a four hour meeting between the eight remaining FOTA teams at Renault's factory.
"The teams cannot continue to compromise on the fundamental values of the sport and have declined to alter their original conditional entries to the 2010 World Championship," the statement from FOTA read, with no elaboration on what the 'fundamental values' were other than presumably 'money, more money for us, money, yes, money, now please'.
The statement continued to explain that: "These teams therefore have no alternative other than to commence the preparation for a new Championship which reflects the values of its participants and partners. This series will have transparent governance, one set of regulations, encourage more entrants and listen to the wishes of the fans, including offering lower prices for spectators worldwide, partners and other important stakeholders.
"The major drivers, stars, brands, sponsors, promoters and companies historically associated with the highest level of motorsport will all feature in this new series."
The move by the eight teams, comprising Renault, Toyota, Brawn GP, McLaren, BMW Sauber, Ferrari, Red Bull and Toro Rosso, will have come as a surprise to many, not least Patronise's own withered cynics, with the deadline for acceptance of Max Mosley's counter-offer not due until tomorrow.
Mosley had yesterday offered the teams a new batch of rules for 2010, that included an increase in the budget cap limit for 2010 and an attempt to come to a compromise on the issue of auditing the teams and their finances once the cap was in place, but this doesn't seem to have been enough to placate FOTA's insane lust for headline space.
FOTA expressed frustration that their efforts to reshape the sport had been shouted down by the governing body. "Since the formation of FOTA last September the teams have worked together and sought to engage the FIA and commercial rights holder, to develop and improve the sport," the statement continued, as someone played a mournful violin in the background.
It went on to say: "In particular the manufacturer teams have provided assistance to the independent teams, a number of which would probably not be in the sport today without the FOTA initiatives. The FOTA teams have further agreed upon a substantial voluntary cost reduction that provides a sustainable model for the future.
"Following these efforts all the teams have confirmed to the FIA and the commercial rights holder that they are willing to commit until the end of 2012."
In an increasingly paranoid rant, the statement then said that: "The FIA and the commercial rights holder have campaigned to divide FOTA.
"The wishes of the majority of the teams are ignored. Furthermore, tens of millions of dollars have been withheld from many teams by the commercial rights holder, going back as far as 2006. Despite this and the uncompromising environment, FOTA has genuinely sought compromise."
Max Mosley will be at the British Grand Prix this weekend, and his reaction to this unprecedented move will be greatly anticipated. Although F1 received a flurry of new entries that could be called on to replace the eight teams for next year, it remains to be seen if a grid of Force India, Williams and a series of identikit Cosworth runners is really how Mosley envisaged the sport in 2010.
Furthermore, if the breakaway series does go ahead, Ferrari and the two Red Bull sides may face legal challenges, after the FIA claimed that both teams had already signed up to F1 in a long term deal.
The severity of the announcement cannot be ignored, but there may well be some more twists still to go in the remarkable amateur saga that is F1 2010.
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